Do we need to apply for ARN first or KYD first?

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02-06-2012
gopinathpc

Do we need to apply for ARN first or KYD first?

I have passed the NSIM MF exam in Dec.
Do I need to apply for the ARN first or the KYD first?
I applied for KYD thinking that I need to get this first since
ARN asks if you applied for KYD.

While checking the status of KYD they are asking if I
applied for ARN.
So, I am confused.
04-06-2012
Madhura

You need to apply KYD simultaneously alongwith application for registration of ARN.
05-06-2012
gopinathpc

Quote:

Originally Posted by Madhura

You need to apply KYD simultaneously alongwith application for registration of ARN.

Thanks for the info.
How long does it take to complete the above process?
Do I need to get the biometric processing done?
05-06-2012
Manish_Kumar

1 Attachment(s)

Quote:

Originally Posted by gopinathpc

Thanks for the info.
How long does it take to complete the above process?
Do I need to get the biometric processing done?

Check the attached KYD process document - it will answer all your queries.
07-06-2012
gopinathpc

Thanks for the information.
If I go through a MF broker like Karvy, do I still need to apply for a KYD?

I am still debating whether doing business as an individudal (and get empanelled by MF companies)
or going under a broker is better.
If you have any thoughts, can you please share with us?

Thanks,
Gopinath
08-06-2012
Manish_Kumar

Are you going to work as sub-broker or agent of Karvy?
Also ask Karvy the commission structure, match it with the individual agent commission. Go for the best option.
15-06-2012
gopinathpc

Another question. I am an NRI and would like to apply as a individual distributor.
I believe AMFI sends a kit along with ARN card. Since I reside outside India
would AMFI send the kit/card overseas?
21-07-2012
NewsDesk

SEBI relaxes KYD norms for overseas mutual fund distributors

In order to remove the entry barriers for getting foreign investments, market regulator SEBI has done away with know your distributor (KYD) norms for overseas mutual fund distributors. It has also said that overseas mutual fund distributors need not pass the NISM certification for selling mutual funds. SEBI has stated that AMCs are required to ensure that distributors are compliant with extant laws where they operate at the time of empanelling them. SEBI has written to AMFI on July 5, 2012 advising it not to insist on KYD for overseas distributors. However, the overseas distributors have to comply with the extant laws of jurisdictions where they carry out their operations.